Applied Materials, Inc. (NASDAQ:AMAT) Shares Purchased by Pendal Group Ltd

Pendal Group Ltd raised its holdings in Applied Materials, Inc. (NASDAQ:AMATGet Rating) by 0.5% in the first quarter, Holdings Channel reports. The fund owned 951,097 shares of the manufacturing equipment provider’s stock after buying an additional 4,651 shares during the period. Applied Materials accounts for approximately 1.0% of Pendal Group Ltd’s investment portfolio, making the stock its 26th largest holding. Pendal Group Ltd’s holdings in Applied Materials were worth $125,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Hanson & Doremus Investment Management raised its holdings in shares of Applied Materials by 1,538.5% during the 4th quarter. Hanson & Doremus Investment Management now owns 213 shares of the manufacturing equipment provider’s stock worth $34,000 after acquiring an additional 200 shares during the period. Dixon Hughes Goodman Wealth Advisors LLC acquired a new stake in Applied Materials during the fourth quarter worth about $35,000. Lowe Wealth Advisors LLC acquired a new stake in Applied Materials during the fourth quarter worth about $35,000. Ahrens Investment Partners LLC purchased a new position in Applied Materials during the fourth quarter worth about $39,000. Finally, Monetary Management Group Inc. acquired a new position in Applied Materials in the 4th quarter valued at about $39,000. 77.90% of the stock is currently owned by institutional investors and hedge funds.

Shares of AMAT traded down $1.11 during mid-day trading on Tuesday, reaching $85.16. 308,500 shares of the company’s stock were exchanged, compared to its average volume of 8,090,430. The business’s fifty day simple moving average is $105.77 and its 200-day simple moving average is $125.67. The stock has a market capitalization of $74.08 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.38 and a beta of 1.50. Applied Materials, Inc. has a 52-week low of $84.46 and a 52-week high of $167.06. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.29 and a quick ratio of 1.54.

Applied Materials (NASDAQ:AMATGet Rating) last issued its quarterly earnings results on Thursday, May 19th. The manufacturing equipment provider reported $1.85 earnings per share for the quarter, missing analysts’ consensus estimates of $1.90 by ($0.05). Applied Materials had a return on equity of 57.17% and a net margin of 27.20%. The business had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.35 billion. During the same quarter in the prior year, the company earned $1.63 EPS. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities research analysts predict that Applied Materials, Inc. will post 7.54 earnings per share for the current year.

Applied Materials announced that its Board of Directors has authorized a stock buyback program on Friday, March 11th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the manufacturing equipment provider to repurchase up to 5.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, August 25th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, August 24th. This represents a $1.04 annualized dividend and a dividend yield of 1.22%. Applied Materials’s dividend payout ratio (DPR) is currently 13.87%.

Several analysts have recently commented on the stock. StockNews.com lowered shares of Applied Materials from a “buy” rating to a “hold” rating in a research report on Tuesday. Mizuho decreased their price target on Applied Materials from $180.00 to $160.00 and set a “buy” rating on the stock in a research note on Friday, May 20th. Cowen cut their price objective on Applied Materials from $190.00 to $160.00 in a research report on Friday, May 20th. Citigroup decreased their target price on shares of Applied Materials from $175.00 to $160.00 and set a “buy” rating on the stock in a research report on Monday, May 23rd. Finally, Barclays dropped their price target on shares of Applied Materials from $150.00 to $125.00 and set an “equal weight” rating for the company in a research report on Friday, May 20th. Nine investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Applied Materials has a consensus rating of “Moderate Buy” and a consensus price target of $151.27.

About Applied Materials (Get Rating)

Applied Materials, Inc provides manufacturing equipment, services, and software to the semiconductor, display, and related industries. It operates through three segments: Semiconductor Systems, Applied Global Services, and Display and Adjacent Markets. The Semiconductor Systems segment develops, manufactures, and sells various manufacturing equipment that is used to fabricate semiconductor chips or integrated circuits.

Recommended Stories

Want to see what other hedge funds are holding AMAT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Applied Materials, Inc. (NASDAQ:AMATGet Rating).

Institutional Ownership by Quarter for Applied Materials (NASDAQ:AMAT)

Receive News & Ratings for Applied Materials Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Applied Materials and related companies with MarketBeat.com's FREE daily email newsletter.